Following the closure of the agreement, the new owners plan to take Citrix private and to combine it with their TIBCO Software organization. TIBCO currently focuses on enterprise data management, specializing primarily in predictive analytics. The investors expect the combination to “empower customers and users with the secure application and information access and insights they need to accelerate digital transformation and navigate the hybrid workplace.” The merged companies should include a combined base of 400,000 customers, including 98% of the Fortune 500 and organizations across 100 countries. Bob Calderoni, Chair of the Citrix Board of Directors and its Interim CEO and President, said the decision to take Citrix private as part of the transaction will provide it with “increased financial and strategic flexibility to invest in high-growth opportunities, such as DaaS, and accelerate its ongoing cloud transition.” The executive also revealed that the transaction has been under review for five months, with additional outreach having occurred to other “potential financial and strategic buyers.” The acquisition has already been unanimously approved by Citrix’s board of directors, and it’s expected to close mid-2022, pending shareholder approval and customary closing conditions. Citrix intends to maintain its current brand name and to continue operating out of its Fort Lauderdale headquarters.
